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Goldman Investing in Crypto Firms in Wake of FTX

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goldman sachs Considering Buying Crypto Companies Amid Sector Turmoil From FTX Collapse

The crypto exchange’s drop last month underscored the need for more reliable players in the industry and gave big banks an opportunity to find new business. Matthew McDermottGoldman’s head of digital assets, told Reuters: interview Published on Tuesday (December 6).

“We’re seeing some really interesting opportunities with smarter pricing,” he said.

McDermott told news outlets his bank is conducting due diligence on several cryptocurrency companies it hopes to buy or invest in, but declined to provide further details.

FTX Seeks Chapter 11 Protection The crash continues last month, with regulatory investigations launched and other companies bankruptcy or refrain from publishing.

“It definitely puts the market back in terms of sentiment, no doubt about it,” McDermott said. “FTX has been a staple in many parts of the ecosystem. But again, the underlying technology will continue to work.”

PYMNTS last week announced our See the future of cryptocurrency As a payment method after the downfall of FTX.

“FTX is by no means a direct stand-in for cryptocurrencies and we reiterate that it would be unfair to paint the entire industry in the crimson letters of exchange failures,” we wrote.

“Despite the echo chamber of negative headlines surrounding crypto, currency solutions based on Web3 are still seen as an important and urgent frontier, especially in commerce.”

And an expert we spoke to claimed that the FTX issue had more to do with Lack of oversight in the company and financial fraud.

“In this case, it wasn’t a crypto failure. Associate Professor of Business Hannah Harableda said in an interview with PYMNTS last month.

How Consumers Pay Online Using Stored Credentials
While some consumers are turning to storing their payment credentials with merchants for convenience, security concerns keep others hesitant. In “How We Pay Digitally: Stored Credentials Edition,” in collaboration with Amazon Web Services, PYMNTS surveyed her 2,102 US consumers to analyze consumer dilemmas and how merchants overcome holdouts clarified.

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